Franklin Discount Co. v. Murphy
Franklin Discount Co. v. Murphy
Opinion of the Court
All parties agree that the negotiability of the note which was issued in Massachusetts is governed by the law of that commonwealth. Applying that principle to this situation, it appears that under Massachusetts law the note was negotiable. City National Bank v. Adams, 266 Mass. 239. Since this is so, it follows that defenses which might be available to the defendant, Gerard M. Murphy, against the original payee are not good against the plaintiff, Franklin Discount Company, which is a holder in due course. State Trading Corporation v. Toepfert, 304 Mass. 473.
This would seem to dispose of the case, but since the defendant claims relief should be granted him on equitable grounds we will further examine the facts to see whether the Court’s denial of the motion to vacate judgment, and in effect have a new trial, contains any error. It appears that on or about March 18, 1949, the plaintiff began its action against the defendant on the note in question in the Superior Court of Merrimack County in this state. The defendant appeared generally through counsel. Later, on August 18, 1949, as shown by an authenticated copy of the records of the municipal court of Boston, Massachusetts, the defendant sued John I. Mcllhenny, the original payee of the note, alleging in his writ false representations and breach of warranty by Mcllhenny in connection with the sale of certain phonographs to the defendant. The plaintiff in the present action was not a party to the suit in the municipal court of Boston and had no part in the case. While this action was pending in the municipal court, the parties to the suit in our Superior Court filed a stipulation on January 31, 1950, agreeing to a docket marking of “Verdict for the plaintiff on the
Judgment for the plaintiff.
Reference
- Full Case Name
- Franklin Discount Company v. Gerard M. Murphy
- Cited By
- 1 case
- Status
- Published